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Seven Lessons for Leading in Crisis

By

Bill George

Updated March 5, 2009 11:59 p.m. ET

Virtually every American institution is facing major crises these days, from declining businesses to evaporating financial portfolios. To get out of these crises, authentic leaders must step forward and lead their organizations through them.

The current crisis was not caused by subprime mortgages, credit default swaps, or failed economic policies. The root cause is failed leadership. New laws, regulations, and economic bailouts won't heal wounds created by leadership failures. They can only be solved by new leaders with the...